Some OPEC+ members falling short in terms of oil production in September
Updated: 2021-10-19 13:36:43 KST
OPEC-Plus' compliance to its pledged oil cuts fell slightly in September, showing that while it raised production targets, some members are falling short.
Citing sources, Reuters reported Monday that members like Angola and Nigeria failed to raise output due to underinvestment and maintenance problems.
It's an issue that's expected to continue impacting West African producers for the foreseeable future.
Saudi Arabia is also defending its policy of gradual production hikes, despite calls from major consumers like the U.S. to further raise supplies as oil prices spike.